Scyllogis Consulting are pleased to announce that for the second year running we will be one of the main sponsors at Informa's annual Insurance Day Technology Forum taking place this year on October 6 in the City of London.  

The aim of the Insurance Day Technology Forum is to detail the latest developments in the sector and debate on an independent platform the merits and challenges that planned projects will produce.

 

 

This event is FREE TO ATTEND for all insurers, reinsurers, Lloyd's syndicates and brokers. Understanding the use of technology is no longer something confined to the IT departments, it is essential in shaping your company's process reform to drive efficiency.

 

Attending this important gathering will ensure that you are not left behind by your competitors.....

The event will be bringing together the leading thinkers on technology from the London insurance market and further afield to make sure you hear about all the latest developments impacting your business.

As Hurst-Bannister indicated in a recent speech he gave at the Lloyd’s Old Library, entitled “Modernising the London market - a cultural revolution?”, London’s insurance market has made manful strides in recent years to overcome the suggestions it lags behind other markets when it comes to technology and service efficiency.

He said: We now have the results of a market-wide survey that shows in the Lloyd’s market, Electronic Claims File transactions take 36% of the time of equivalent paper-based work. We have further built on the emergence of the technology-enabled market to remove paper from our premium process and slash two days from the average transaction time. We have proved the applicability to the front office through our work on email endorsements, where some brokers have reached 30â„… of their total number of endorsements being processed electronically.
 

But despite such strong progress, the market cannot rest on its laurels and the Technology Forum programme will bring together the leading thinkers on process reform to outline how modernisation can be further extended across the front office.

 

MORNING HIGHLIGHTS

Already confirmed on the agenda at this year’s forum, which will be chaired by London Market Group secretariat, Christopher Croft is a morning keynote speech from the chairman of the London Market Group, Barnabas Hurst-Bannister, who is also chairman of Travelers Syndicate Management Limited.

Next up, current IUA chairman, Riley will join a panel discussion debating the success levels of ongoing market reform initiatives, which also features the head of market processes at the Lloyd’s Market Association, Rob Gillies.

The second panel session of the morning, which is held in association with Scyllogis Consulting, focuses on the practical implementation of STP. Confirmed speakers to date for this session include Kiln’s newly appointed chief information officer, Ray Faires, who joined the insurer from Morgan Stanley, and Aon Benfield’s director of change strategy, Ian Summers.

The pros and cons of building your own claims systems or buying one in will be discussed in the following session, hosted by Fineos, and featuring Markel’s claims director, Stuart Willoughby, before the morning session concludes with a Solvency II double bill.

Firstly, technology integration partner at Deloitte, Rich Hurley will outline practical steps which will need to be followed to ensure insurers are fully compliant with the directive, which comes into force on January 1, 2013. Then a panel of industry experts, to be announced, will debate some of the issues raised during Hurley’s presentation.

AFTERNOON AGENDA

Carroll, who was IUA chairman between 1999 and 2001 and until March of this year was underwriting director at Canopius, will deliver the opening keynote speech of the afternoon session.

Meanwhile, after a panel discussion which examine the progress made by global process initiatives such as the Ruschlikon Initiative, and the Tomorrow’s World sessions, the final panel of the day will focus on bordereau processing.

With over 2,500 coverholders, 6,500 binding authorities and an increased focus on the “development of the coverholder channel, subject to proper and appropriate controls” (as per the 2010-2012 Lloyd’s strategy plan), session host, Sword Insurance, will look at which standards are being published and adopted in this area today and discuss how long it will be until real-time reporting is the norm.

The Insurance Day Technology Forum is free to attend for all insurers, reinsurers, Lloyd’s syndicates and brokers.

But with over 100 delegates already registered you will need to move quickly to reserve your place. Visit www.insuranceday.com/techforum to register and for details of keynote speakers, panel participants and the full programme for the day.

Please make sure to put the date in your diary and come and say hello!